Vodafone Idea denies discussions of alliance with Musk’s company
[ad_1]
Creative Commons
In the last few days, there has been a rise in the shares of VIL in anticipation of this partnership. This rally has been further strengthened by the news of Musk visiting India next week to participate in the Vibrant Gujarat Investor Summit. However, Tuesday was not a good day for Vodafone Idea shares and a huge fall of 5.65 percent was seen in its price on BSE.
Telecom service provider Vodafone Idea Ltd (VIL) on Tuesday denied being in talks for a tie-up with Elon Musk-led Starlink, saying it was unaware of the basis of reports claiming the tie-up. Vodafone Idea, in its filing with BSE, stressed that it will comply with SEBI provisions regarding market listing and will keep all price sensitive information informed to the stock exchanges. This statement of the company which is facing financial difficulties has come at a time when such discussion is going on in the market.,
That Musk’s Starlink may tie up with Vodafone Idea to enter the Indian telecom sector. On this VIL said, “We are not aware of the basis of this news. In this regard, we would like to say that the company is not in any such discussion with the named party.” Actually, there was speculation that the government may sell its 33.1 percent stake in VIL to Musk so that Starlink can be launched in the Indian market. The way to enter can be prepared.
In the last few days, there has been a rise in the shares of VIL in anticipation of this partnership. This rally has been further strengthened by the news of Musk visiting India next week to participate in the Vibrant Gujarat Investor Summit. However, Tuesday was not a good day for Vodafone Idea shares and a huge fall of 5.65 percent was seen in its price on BSE.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
